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Peter Costa: "Longer-Term I Still Think We Are In A Heap Of Trouble"
Peter Costa once again dares to spoil the propaganda party.
"Longer-term, I still think we are in a lot of trouble, a heap of trouble...I am still on the bearish bent. End of the year I think we will be here or a little lower. I am sorry."
Peter, you are nowhere near as sorry as the producer who let you talk your piece on CNBCOMCASTAGANDA, when he/she gets their pink slip by EOD.
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PC is quite likely never to be seen or heard from ever again... like everything else derogatory and negative towards upper right skewed graphs.
Peter Costa may be an incredibly nice guy, but he is a floor broker. That makes him uniquely qualified to stack cans at the A&P. The collective IQ of those on the Floor is equal to that of Paris Hilton, Brittney Spears, and Kim Kardashian. He seldom offers any concrete data or evidence behind his opinions and is seldom right.
If he still belives that, then the "end of year we will be here or a little lower" doesnt really fit.
Looks like he changed a bit his mind...........
That's like saying in Berlin '45, that, "the Red Soviet soldiers are going to make all you attractive German ladies a little uncomfortable" when they pile in here.
If lower means shut down of capital markets and currency collapse, as well as the modern version of the Goth, Ostragoths, Visigoths, marauding hordes, and a splintering fragmentation of the USA into tribal warring states then BINGO! Master of subtlety and understatement, Peter-that's-gonna-Costa.
"Sorry Mark."
This says it all. Anyone who mugs for the camera, especially on CNBS, doesn't want to dissappoint, less they not be asked back.
CNBS, World Leader in Pretending Business is Good.
"I am sorry. That's what you wanted me to say, right? I didn't have time to practice my lines. Why are you making that weird face?"
LOL! Mark Haines can't believe what he is hearing. 100% cognitive dissonance. "So I can take the year off?" he asks flippantly. What an a$$. Yes, Mark. Take a year off. Take 10 years off. Leave the propaganda to the other shills.
Haines is doing all he can to keep up the act, but I sense he's realizing the inevitable. Call Steve Liesman - he still believes his own BS.
...
This guy was as bullish as anyone in 2006, 2007 and most of 2008. I'm not inclined to listen to anything this guy says. I'm surprised ZH would even give a guy like this airtime. He's a dope whether he's bullish or bearish.
+1000
Fire that communist.
I was waiting for the big hook from stage right...
Living in Germany, I watch CNBC-Squawbox(?)-Europe every morning and it is a pretty good program. They even invite Hugh Hendry sometimes.
Strange that the US version is so different and crappy.
It is because the USA has adopted a well accepted model that lies, fraud, CONfidence games are perfectly acceptable.
That's why the USA is phucked right now and it will become worse because the political and business leadership are a bunch of phucking liars and con men.
I hope this clears things up.
Living in Switzerland, I can confirm that.
One explanation would be that these bunch of idiots on CNBC still believe that when the stock market is up, all the economy is up, which is nonsense. Since 1 year, they only lie but TD wrote already a lot about that.
Even MTV is better in Europe. Wait, much better.
I live in Canada......and I also confirm; I start working at 4:30 a.m. and watch Europe CNBC....then at 5:55 US Sqak intros and I move on.
FT
Comcastaganda!!! LOL
Shoulda been in the search tags.
There's only so much bullshit a Brooklynite can tell before he has to tell the truth. Sammy the Bull Gravano? Ayyy...he got tired of having to lie all the time, right? Soze he goes ahead and he tells it like it is..whatdafuck right? It's the truth.
Peter Costa is a good man. He's a friend of mine.
-MobBarley
Mark Haines is about the only one of those fools who actually does know the score. It's just that he's hanging on for whatever retirement pay he can eke out, and knows he'd better toe the company line, or else.
Kudos to Costa for the frank appraisal--plus, he still manages to deliver it with an engaging smile...
I suspect many older people working for CNBC have a very large investment (via their 401(k) and profit sharing) in GE stock. Remember the good old days when GE was floating up around $55 and the talk was $100 was around the corner?
Ah, the good old days. With GE around $16, a lot of people are waiting for GE to recover. I personally know 2 people who work for GE who have put off retiring because they're waiting for GE to hit $30-40 again. I suspect Haines might be the third person.
http://finance.yahoo.com/echarts?s=GE#chart5:symbol=ge;range=19971001,20100105;indicator=volume+stochasticfast+macd;charttype=candlestick;crosshair=cross;ohlcvalues=1;logscale=on
Mr. Costa will lose his staus as CNBS analyst. A position he was probably suckered into taking in the first place. He knows, as do most of the people on the floor. That if you talk to CNBS, you are considered either a kiss ass, or someone who hates their job and is looking for a "journalist"/"talking head" position in the not so distant future.
He'll go the way of Art Cashin. You'll see less and less if him, and more and more Pisani - he's a true believer.
"Socialized risk and privatized profits"
Is this the final paradigm?
Me thinks people will get it sooner than later.
Note to Peter : Never apologize for telling the truth. Never.
I think he was apologizing to his wife as he knows his pink slip as a CNBS market commentator will be waiting for him.
Mark Haines,
World's worst comb over
I find him objectionable on many levels
Oops. Bubblevision hates reality. Mark looked like someone shot his dog. Oh well, reality bites. Good luck to the former CNBC producer!
+100 for Peter Costa.
Mark Haines is an insufferable pinhead. They should have canned him years ago. Tend to your tomatoes, Mark. Get the hell off the tube.
I think Peter Costa and Steve Grasso are the best arguments I have ever seen for electronic trading. I used to love running those idiots over when I worked on the floor. I hear Cartoon Network wants to start broadcasting from the main room . I would personally like to nominate these two quality financial commentators for the job. Thanks ZH. You site sucks !
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